11 May 2014
China's leading drilling services company Keri Group is willing to broaden its activities in Iran's oil sector, its representative said.
"This company has been in Iran for five years and it has cooperated with National Iranian Drilling Company, North Drilling Company and other private companies involved in drilling," the company's representative, Ali Delavar, told Shana on the sidelines of the Tehran Oil and Gas Show.
Delavar said Keri Group is China's second largest oil company manufacturing drilling rigs and providing drilling services.
He said the Chinese entity plans to offer drilling services to Iranian companies and enhance recovery from Iran's mature oil wells.
"The Iranian Oil Ministry's new officials seem to be able to revamp Iran's oil industry and they have positive views about broader cooperation with foreign companies," he said.
"We hope to see better conditions in this country's oil and gas industries."
Iran's annual oil and gas fair opened on Tuesday, with 600 foreign companies seeking to position themselves for a return to large-scale operations when international sanctions are lifted.
With some of the world's biggest oil and gas reserves, the industry is the cornerstone of Iran's economy, but it was hit by an American and European embargo on the energy and banking sectors in 2012.
Asian oil giants have sought to fill the void in recent years.
President Hassan Rouhani said in recent months Iran would benefit from the investment and technology transfer that international oil companies can deliver.
Hatef Haeri, an energy expert with the ICG consultancy group, said this year's stronger foreign presence at the fair indicated better conditions for deals.
"The energy market in Iran is huge," he said. "With a five-year plan for $150 billion of investment, some of this must come from abroad," he said.
Iran has the world's fourth highest oil reserves and the second highest gas deposits after Russia.
China's leading drilling services company Keri Group is willing to broaden its activities in Iran's oil sector, its representative said.
"This company has been in Iran for five years and it has cooperated with National Iranian Drilling Company, North Drilling Company and other private companies involved in drilling," the company's representative, Ali Delavar, told Shana on the sidelines of the Tehran Oil and Gas Show.
Delavar said Keri Group is China's second largest oil company manufacturing drilling rigs and providing drilling services.
He said the Chinese entity plans to offer drilling services to Iranian companies and enhance recovery from Iran's mature oil wells.
"The Iranian Oil Ministry's new officials seem to be able to revamp Iran's oil industry and they have positive views about broader cooperation with foreign companies," he said.
"We hope to see better conditions in this country's oil and gas industries."
Iran's annual oil and gas fair opened on Tuesday, with 600 foreign companies seeking to position themselves for a return to large-scale operations when international sanctions are lifted.
With some of the world's biggest oil and gas reserves, the industry is the cornerstone of Iran's economy, but it was hit by an American and European embargo on the energy and banking sectors in 2012.
Asian oil giants have sought to fill the void in recent years.
President Hassan Rouhani said in recent months Iran would benefit from the investment and technology transfer that international oil companies can deliver.
Hatef Haeri, an energy expert with the ICG consultancy group, said this year's stronger foreign presence at the fair indicated better conditions for deals.
"The energy market in Iran is huge," he said. "With a five-year plan for $150 billion of investment, some of this must come from abroad," he said.
Iran has the world's fourth highest oil reserves and the second highest gas deposits after Russia.
© Iran Daily 2014
